Daily Archives: February 8, 2017

Is 2017 going to be the year you buy your first home? Whether it feels impossible or achievable, here are some simple, practical steps you can take to get that bit closer to becoming a home owner:

Investigate monthly outgoings – When saving for a deposit, every pound counts! Getting into good habits now will lead to increased levels of monthly savings, taking you closer and closer to your first home. Think about areas where you could be saving money, whether the amounts are small or large. Perhaps you’re not fully utilising that monthly magazine subscription or gym membership?

Keeping a record of your spending may help with this. Investigate regular costs and see if savings can be made on items such as food, clothing or entertainment.

Improve your credit rating – Consider setting up direct debits on any regular expenses such as credit cards and utility bills to improve your credit rating. Also, ensure you’re on the electoral roll too, as lenders may conduct these types of checks.

Set up a savings account – Putting away a fixed amount of money each month into a savings account where access to the account is restricted is a great, disciplined approach to saving that will help you build up the deposit you need more quickly.

Get the mortgage that suits you best – There are so many mortgage products and deals on the market that it’s worth thinking very carefully about what will suit you best. Think about how long you may want to live in your property and whether a fixed or variable rate mortgage will work for you. With interest rates being low, it may be worth considering a remortgage in a few years’ time. If mortgages leave you feeling confused, it’s well worth speaking to a mortgage advisor and family, friends and relatives about their own experiences.

At Redstones, we appreciate that this is a lot for you to consider and plan for. We’re therefore always keen to advise first-time buyers any way we can. Whether you’re looking to buy or rent right now, find out what Redstones can offer.

About The Author – Manjit Virdi B.Sc Hons MARLA MNAEA

Owner of Redstones Agency offering a superlative service to residential property owners in both the lettings and sales market.
Redstones is a successful lettings agency established in 2003 with an aim of providing a superlative service to property owners frustrated by the lack of customer service in the market.
Following the opening of our first high street office in 2010, we launched a customer focused service covering residential sales, lettings, property management and auctions. Building on our successful foundations in the residential market, Redstones has recently extended its service into the commercial sales and lettings sector.
With a proven, successful business format, we are now expanding our brand through franchising, attaining provisional membership of the BFA in 2011
Our vision is to be the largest, reputable lettings agency in the UK.
Skills : Residential Lettings, Residential Sales, Estate Agency, Franchisor, Lettings Franchise, Property Franchise, Commercial & Auctions